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Borrower Worksheet of Loan Program and Estimated
Closing Costs |
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This worksheet is an initial
estimate of the fees you will incur to close this mortgage loan. You will be
provided with a Good Faith Estimate of Closing Costs and a Truth in Lending
disclosure which will provide additional information.
This is not an approval of your loan, nor a commitment to make a loan. |
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Please
call: |
Debbie
Mason |
at: |
916-784-2525 |
with
any questions. |
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Date: |
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01/19/07 |
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Applicant: |
John
Doe |
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Property
Address: |
To Be
Determined |
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CLTV = 100% |
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Loan Program: |
5/1 Arm Interest Only |
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LENDER AND THIRD PARTY COSTS |
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MORTGAGE DETAILS |
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Origination Fee |
0.000 |
$0.00 |
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Sales Price |
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$330,000.00 |
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Discount Points |
1.750% |
$4,620.00 |
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1st Mortgage Loan
Amount |
$264,000.00 |
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Appraisal |
DUE |
$435.00 |
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Estimated Note Rate |
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6.000% |
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Credit Report |
DUE |
$35.00 |
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Loan To Value (LTV) |
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80% |
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Tax Service |
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$80.00 |
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Product/Term |
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360 |
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Flood Certificate |
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$26.00 |
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2nd Mortgage Loan
Amount |
$66,000.00 |
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MIP/VA Funding Fee |
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Estimated Note Rate |
9.875% |
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Document Preparation |
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$320.00 |
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Combined Loan to Value
(CLTV) |
100% |
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Processing |
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$495.00 |
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Product/Term |
15 yr. fixed |
Fixed IO |
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Dicount Points 2nd |
1.875% |
$1,237.50 |
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PREPAID INTEREST / IMPOUND ACCOUNT |
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$7,248.50 |
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Interest |
10 |
Days |
$433.97 |
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1st Year Homeowner's
Insurance |
$900.00 |
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TITLE COMPANY FEES** |
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3 Mos. Insurance Reserves |
$225.00 |
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Escrow |
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$650.00 |
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Mello Roos |
0 |
Months |
$0.00 |
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Lender Policy |
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$257.00 |
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R.E. Taxes |
0 |
Months |
$0.00 |
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Title Policy |
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$1,250.00 |
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$1,558.97 |
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Recording |
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$105.00 |
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Wire Fee and Messenger
Fee |
$150.00 |
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TOTALS |
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Transfer Tax |
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$363.00 |
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Prepaids / Impound
Account |
$1,558.97 |
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Notary |
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$150.00 |
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Total Closing Costs |
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$10,173.50 |
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$2,925.00 |
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Less Credit |
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$0.00 |
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Less Earnest
Deposits @ 3% |
-$6,500.00 |
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Seller Credit |
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$0.00 |
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**
Paid by buyer per sales contract and to the title company |
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Estimated Cash Required for Closing |
$5,232.47 |
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Estimated Payment Details |
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1st Mortgage Payment: Interest
Only |
$1,320.00 |
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2nd Mortgage Payment : Interest
only |
$543.13 |
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Monthly Taxes @ 1.000% |
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$275.00 |
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Monthly Insurance |
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$75.00 |
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Monthly Mello Roos |
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Monthly Total |
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$2,213.13 |
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PLEASE BRING THE FOLLOWING DOCUMENTS TO |
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income |
$
4,583.00 |
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PROCESS YOUR LOAN IF THEY ARE HIGHLITED: |
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debts |
$
124.00 |
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housing |
$2,213.13 |
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Full
Month Paystub(s) |
Gift
Letter |
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Self
Employed |
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Two
Year's W-2's |
Investmenty Account Statement |
Two
Year's 1040's |
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Bank
Statement - 2 months |
Explanation for Credit |
Current
Profit and Loss |
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ratios |
48.29% |
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Divorce
Decree |
Inquiries/Derogatories |
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51.00% |
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Landlord's Name & Address |
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Comments: |
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